The 'iPhone of AI' will be built by OpenAI, which ex-Apple designer Jony Ive is attempting to fund with $1 billion in funding from SoftBank's son

According to a Thursday Financial Times report, OpenAI, the company behind ChatGPT, and former Apple designer Jony Ive are in advanced talks with SoftBank’s Masayoshi Son to raise more than $1 billion in funding to create the “iPhone of artificial intelligence”.

According to the report, OpenAI has hired Ive’s business LoveFrom to create the first consumer product he created, ChatGPT.

The source claims that although “serious” negotiations are taking place, no deal has yet been reached. It may take some time before a venture is actually launched.

Ive, Son, and OpenAI CEO Sam Altman have talked about establishing a business that would combine the expertise and technological advancements of their three organizations, the article said.

Web technology Ive and Altman have been talking about creating a new AI hardware gadget, and Softbank’s Son has been involved in some portions of the dialogue, according to a report published by The Information on Tuesday.

Ive has worked for Apple for more than two decades. He worked closely on creative projects with co-founder Steve Jobs of the computer behemoth.

Ive was in charge of both the design of the iPhone and the candy-colored iMacs that helped Apple recover from its 1990s near-death experience.

After the wildly successful offering of its Arm company, the FT had earlier this month reported that SoftBank had been searching for AI acquisitions, including a prospective investment in OpenAI.

Son was reportedly planning to invest tens of billions of dollars in the technology, according to the report.

Following ChatGPT’s incredible success, OpenAI has inspired businesses like Microsoft and Alphabet to invest billions of dollars in the technology.